Can I retire at age 55 with 585,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $585,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$48,309$47,878$47,459$47,049$46,649$46,258
2 years$23,915$23,470$23,038$22,620$22,214$21,820
3 years$15,785$15,338$14,907$14,493$14,093$13,708
4 years$11,721$11,275$10,849$10,441$10,051$9,679
5 years$9,283$8,840$8,419$8,020$7,641$7,281
6 years$7,658$7,218$6,804$6,413$6,046$5,700
7 years$6,498$6,062$5,654$5,273$4,917$4,585
8 years$5,628$5,196$4,795$4,423$4,079$3,761
9 years$4,952$4,524$4,130$3,768$3,435$3,131
10 years$4,412$3,988$3,601$3,248$2,927$2,636
11 years$3,970$3,550$3,170$2,827$2,517$2,240
12 years$3,602$3,186$2,813$2,479$2,181$1,917
13 years$3,291$2,880$2,513$2,189$1,902$1,650
14 years$3,024$2,617$2,258$1,943$1,668$1,428
15 years$2,793$2,391$2,039$1,733$1,468$1,241
16 years$2,592$2,194$1,849$1,552$1,298$1,082
17 years$2,414$2,020$1,682$1,394$1,151$946
18 years$2,256$1,867$1,536$1,256$1,023$830
19 years$2,115$1,730$1,406$1,135$912$729
20 years$1,988$1,608$1,290$1,028$814$642
21 years$1,874$1,498$1,187$933$729$566
22 years$1,770$1,398$1,094$848$653$500
23 years$1,675$1,308$1,010$773$586$442
24 years$1,588$1,225$934$705$527$392
25 years$1,508$1,150$865$644$474$347
26 years$1,435$1,080$802$588$427$308
27 years$1,367$1,017$745$539$385$273
28 years$1,304$958$693$493$348$243
29 years$1,245$904$644$453$314$216
30 years$1,191$854$600$415$284$192
31 years$1,140$807$560$381$256$171
32 years$1,092$764$522$351$232$152
33 years$1,048$723$488$322$210$135
34 years$1,006$685$456$297$190$120
35 years$966$650$426$273$172$107
36 years$929$617$398$251$156$95
37 years$894$586$373$232$141$85
38 years$861$557$349$214$128$76
39 years$830$530$327$197$116$68
40 years$800$504$307$182$105$60
41 years$772$480$288$168$96$54
42 years$745$457$270$155$87$48
43 years$719$435$253$143$79$43
44 years$695$415$238$132$71$38
45 years$672$396$223$122$65$34
46 years$650$377$210$112$59$30
47 years$629$360$197$104$53$27
48 years$609$344$185$96$49$24
49 years$590$328$174$89$44$22
50 years$571$314$163$82$40$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $585,000, adding $4,303 every year, while hoping to spend $26,252 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 45/45/10 Blend
54$585,000$585,000$585,000$585,000
55$649,109$618,104$609,036$676,296
56$687,386$620,459$601,507$697,919
57$728,687$622,049$592,846$718,319
58$773,294$622,810$582,986$739,845
59$821,514$622,673$571,861$762,609
60$873,688$621,562$559,397$786,739
61$930,187$619,402$545,520$812,373
62$991,421$616,108$530,150$839,669
63$1,057,842$611,593$513,206$868,800
64$1,129,944$605,763$494,600$899,959
65$1,208,273$598,520$474,244$933,360
66$1,293,428$589,759$452,043$969,241
67$1,386,070$579,369$427,898$1,007,868
68$1,486,923$567,232$401,707$1,049,533
69$1,596,787$553,224$373,362$1,094,563
70$1,716,540$537,213$342,750$1,143,321
71$1,847,149$519,059$309,755$1,196,208
72$1,989,680$498,615$274,253$1,253,669
73$2,145,304$475,723$236,117$1,316,198
74$2,315,311$450,219$195,213$1,384,344
75$2,501,120$421,928$151,400$1,458,714
76$2,704,297$390,665$104,534$1,539,981
77$2,926,561$356,233$54,462$1,628,890
78$3,169,808$318,427$1,025$1,726,267
79$3,436,126$277,027$0$1,833,028
80$3,727,813$231,804$0$1,956,161
81$4,047,400$182,512$0$2,091,317
82$4,397,674$128,895$0$2,239,646
83$4,781,706$70,679$0$2,402,544
84$5,202,876$7,578$0$2,581,550
85$5,664,908$0$0$2,778,369
86$6,171,905$0$0$3,024,946
87$6,728,385$0$0$3,299,779
88$7,339,325$0$0$3,601,584
89$8,010,206$0$0$3,933,078
90$8,747,070$0$0$4,297,254
91$9,556,567$0$0$4,697,411
92$10,446,028$0$0$5,137,181
93$11,423,527$0$0$5,620,568
94$12,497,959$0$0$6,151,982
95$13,679,124$0$0$6,736,280
96$14,977,819$0$0$7,378,816
97$16,405,938$0$0$8,085,487
98$17,976,587$0$0$8,862,790
99$19,704,206$0$0$9,717,885
100$21,604,703$0$0$10,658,658